General Information
Tradier Brokerage Inc., based in Charlotte, NC., is an online brokerage that offers its own trading platform and an API for other brokerages to plug into. It is a good fit for active traders familiar with how the stock market works and who want a customizable trading experience.
Tradier Brokerage Inc. operates in the United States, offering options, stocks, ETFs, and cryptocurrencies for trading. The company provides Standard and Pro account types with associated fees and commissions. To open an account, users can visit the website and follow a simple registration process. Minimum deposit requirements vary, with no minimum for cash accounts and a minimum of $2,000 for margin trading. Deposit and withdrawal options come with varying fees. Tradier offers access to numerous trading platforms and provides educational resources through its blog and OptionsBrewTV series. Customer support is available during business hours, primarily via email and phone.
Pros and Cons
Tradier offers a range of market instruments, including options, stocks, ETFs, and cryptocurrencies, providing diverse trading opportunities. It also provides a variety of account types at low pricing, with no minimum deposit requirement for cash accounts. Traders can access over 100 trading platforms, catering to different preferences. Additionally, Tradier offers educational resources through a blog and OptionsBrewTV series. However, it's important to note that the platform lacks regulatory oversight, potentially posing risks to investors, and incurs various fees and commissions. The Pro account option comes with an additional monthly cost, and customer support availability is limited outside of regular business hours. Moreover, there is limited information available regarding educational resources.
Is Tradier Legit？
Tradier lacks regulatory oversight, posing potential risks to investors. Caution is advised when considering this broker.
Market Instruments
1. Options: Tradier offers a range of options instruments, including call and put options. These derivatives allow investors to speculate on the future price movements of underlying assets like stocks or indices. For example, you can trade options on popular stocks such as Apple Inc. or Microsoft Corporation.
2. Stocks: Tradier provides access to a variety of stocks from different markets. You can trade stocks listed on major exchanges like the New York Stock Exchange (NYSE) and NASDAQ. Examples of tradable stocks include companies like Amazon, Google parent company Alphabet Inc., and General Electric.
3. ETFs (Exchange-Traded Funds): Tradier offers ETFs, which are investment funds that hold a diversified portfolio of assets, such as stocks, bonds, or commodities. Investors can buy and sell shares of ETFs throughout the trading day. Popular ETFs available on Tradier may include SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ).
4. Cryptocurrencies: Tradier provides access to a selection of cryptocurrencies, allowing traders to invest in digital assets like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Cryptocurrencies are known for their price volatility and can be traded 24/7, offering potential opportunities for investors in this asset class.
Account Types
STANDARD
The Standard account at Tradier offers low pricing for casual traders seeking value. It comes with commission-free equity trades, developer API access, and access to web and mobile platforms. Additionally, there is a $0.35 per options contract commission.
PRO
The Pro account is priced at $10 per month and includes all the features of the Standard account. It offers commission-free equity trades, developer API access, and access to web and mobile platforms. Moreover, Pro account holders enjoy commission-free option trades, an annual waiver of IRA fees, and access to the advanced trading platform TradeHawk.
How to Open an Account？
To open an account with Tradier Brokerage, follow these steps:
Visit the Tradier Brokerage website.
Click on the “Sign Up” button.
Choose between “Open a Standard Account” or “Open a Pro Account” based on your preference.
Fill out the required information, including your first name (full legal name), last name, email address (and confirm it), choose a username (case-sensitive), and create a password.
Once all the information is filled in, click the “Create” button to complete the account setup process.
Commissions & Fees
Tradier imposes various fees and commissions, including an Automated Customer Account Transfer fee of $75 for outgoing transfers and $30 for outgoing domestic wire transfers. There is a $5 ACH Notice-of-change fee and a $35 fee for returned checks, ACH, wire, or stop payments. Inactivity fees are $50 annually for accounts with less than $2,000 and less than 2 trades per year, while international accounts with less than 2 executed trades per month incur a $20 inactivity fee. IRA accounts have an annual fee of $30 and a termination fee of $60. Option assignment/exercise costs $9, while broker-assisted trades require an additional $10 fee on top of the regular commission. Various regulatory and clearing pass-through fees apply, such as clearing fees ranging from $0.045/contract to $55/trade, SEC Regulatory Fees at $0.000008/$1 sold, and TAF Regulatory Fees at $0.000119/share ($5.95 trade max.). Additionally, there are less common fees, including a DWAC/DRS fee of $150 per CUSIP, a Mutual Fund Transaction fee of $30, and a $50 fee for overnight mail within the U.S., among others.
Minimum Deposit
Tradier Brokerage has no minimum deposit requirement for opening a cash account. However, for margin trading, a minimum deposit of $2,000 is needed. Additional minimum deposit requirements apply for specific trading permissions, such as $10,000 for selling naked puts, $50,000 for selling naked calls, and $100,000 for selling naked index options. It's important to note that certain platform provider agreements may have varying account funding minimums, so users should refer to the relevant agreements for specific details.
Pricing Options
Tradier offers 2 pricing options — infrequent traders may want to opt for Tradier‘s 0 Stocks and $0.35 per Options contract trading, while very active traders can often save money by opting into Tradier’s $10 monthly all-inclusive option and Equity, which cuts commissions entirely.
Trading Platform
Tradier offers access to over 100 trading platforms and handles more than 1 billion API calls per month, providing traders with a wide range of options. Some of the featured platforms include SlashTraders, Option Samurai, Hoadley Trading & Investment Tools, Trader Oasis, Trade Unafraid, OptionNET Explorer, Trademetria, Global Predictions PortfolioPilot, TruCharts, Portfolio123, Quiver Quantitative, Tiblio, Medved Trader, TiiCKER, WealthLab, Option Strategies Insider, ORATS, Dynamic Trend, Steady Options, NinjaSpread, Stock Unlock, TradesViz, eSignal, Scutify, TradingView, Track 'n Trade, Stock Pilot, Equities Lab, Exeria, BetterTrader, Social.Trade, Form8949.com, Quantcha, Global Autotrading, Orion Multi-Trader, Screenulator, OneOption, Lucid Trend, MotiveWave, SignalStack, StockCharts, TrendSpider, TradeGrub, Tradervue, Slope of Hope, Screener.co, Trade Partner, Echo Trade, Investfly, Passiv, ionDesk, StocksLive, Spreadable, UpLeg, Option Alpha, eDeltaPro, Postoptions.app, PeakBot, Smart Options Club, SignalPop, MarketXLS, and TradeHawk, each catering to specific trading needs and preferences.
Deposit & Withdrawal
Tradier offers various deposit and withdrawal options. Electronic funds transfer (ACH) deposits are free of charge, while outgoing ACH withdrawals cost $10 each. Wire transfers, both domestic and international, have a fee of $30 for outgoing transactions and $75 for outgoing international wires. Additionally, mailing checks comes with a $3 fee. There are no fees for electronic account statements and confirms, but paper statements incur a $6 charge each, and paper confirms cost $3 each. It's important to note that fees and charges may vary depending on the specific transaction and method used.
Customer Support
If clients have any questions or concerns, please call 980.272.3880 or email service@tradierbrokerage.com for consultation.
Educational Tools
Tradier provides educational content through its blog, featuring articles such as “How Agriculture Crush Spreads act as Real-Time Indicators” and “Breaking Down Energy Crack Spreads as Real-Time Indicators.” These articles offer insights into market indicators and terminology, helping users better understand supply and demand dynamics in sectors like agriculture and energy.
OptionsBrewTV by Tradier is another educational resource offered by the platform. Hosted by Lex, a veteran options trader, this web series covers various topics, including options spreads, options trading, and stocks. The series provides viewers with diverse perspectives and strategies for capitalizing on market opportunities, with live shows and recorded episodes available for viewing.
Conclusion
In conclusion, Tradier Brokerage Inc. presents both advantages and disadvantages for potential investors. On the positive side, it offers a variety of market instruments, including options, stocks, ETFs, and cryptocurrencies, catering to diverse investment preferences. The availability of different account types, such as Standard and Pro, provides flexibility for traders. Moreover, Tradier offers a wide range of trading platforms, accommodating various trading styles. On the downside, the lack of regulatory oversight raises concerns about investor protection, warranting caution. Additionally, the fee structure at Tradier can be complex and includes numerous fees, which may impact the cost-effectiveness of trading. Finally, the limited customer support hours may inconvenience users who require assistance outside of regular business hours. Potential investors should carefully weigh these pros and cons when considering Tradier Brokerage as their trading platform of choice.
FAQs
Q1: Is Tradier a reputable brokerage？
A1: Tradier lacks regulatory oversight, which may pose risks to investors. Caution is advised when considering this broker.
Q2: What market instruments can I trade on Tradier？
A2: Tradier offers options, stocks, ETFs, and cryptocurrencies for trading.
Q3: What are the account types available at Tradier？
A3: Tradier offers Standard and Pro accounts, with Pro accounts providing additional benefits like commission-free option trades and access to TradeHawk.
Q4: How do I open an account with Tradier？
A4: To open an account with Tradier, visit their website, click “Sign Up,” choose your preferred account type, and complete the required information.
Q5: What are the fees and commissions at Tradier？
A5: Tradier charges various fees, including transfer fees, inactivity fees, and option assignment fees. The fees can vary depending on the type of transaction.
Q6: Is there a minimum deposit requirement at Tradier？
A6: Tradier has no minimum deposit for cash accounts, but a $2,000 minimum is required for margin trading. Specific trading permissions may have higher minimums.
Q7: What trading platforms are available on Tradier？
A7: Tradier offers access to over 100 trading platforms, catering to a wide range of trading needs and preferences.
2024-02-01 11:17
2023-02-28 11:23
